IN BRIEF: Schneider Electric and Bentley Systems scrap tie-up talks

22nd May 2024 14:30

Schneider Electric SE - Rueil-Malmaison, France-based energy management company - Says discussions regarding "a potential strategic transaction" with Bentley Systems Inc are now mutually terminated, and that no transaction was agreed upon. Says it will not provide further details regarding the proposed deal or preliminary discussions. Schneider confirmed on April 19 that it was engaged in talks regarding a potential tie-up deal with Bentley, a Pennsylvania-based software company, after the Wall Street Journal reported the potential deal that could have been worth over USD15 billion.

Company says it "remains focused on its consistent capital allocation priorites. Regarding inorganic development, the group maintains that it will remain agile and opportunistic. However, the group reiterates the need for a disciplined approach to value creation for stakeholders in any potential strategic transaction."

Current stock price: EUR233.55, up 1.0% in Paris on Wednesday

12-month change: up 41%

By Emma Curzon, Alliance News reporter

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